BARNARD CORPORATION Balance Sheet At December 31, Prior Year Stockholders' equity Contributed capital Paid-in capital Common stock (par $15; 5,000 shares) $ 75,000 14,000 Total contributed capital 89,000 Retained earnings Total stockholders' equity 47,000 $136,000 During the current year, the following selected transactions (summarized) were completed: a. Sold and issued 1,200 shares of common stock at $23 cash per share (at year-end). b. Determined net income, $47,000. c. Declared and paid a cash dividend of $3 per share on the beginning shares outstanding. Required: Prepare a statement of stockholders' equity for the year ended December 31, current year. Balances as of December 31, prior year Add: Net income Less: Dividends declared Stock issued Balances as of December 31, current year Answer is not complete. BARNARD CORPORATION Statement of Stockholders' Equity Common Stock Paid-in Capital Shares Amount Retained Earnings 5,000 $ 75,000 $ 14,000 $ 47,000 $ Total Stockholders' Equity 1,200 136,000 47,000 (15,000) 47,000 15,000 27,600 $ 79,000 $ 195,600